Deputy Exchange Controller tells Court:
Ravi K violated Exchange Control
*Received US$ 3m to invest in Union Bank
*Deal arranged with Raj Rajaratnam
Deputy Exchange Controller Sisira Kumara Perera giving evidence
before Colombo High Court Judge Deepani Wijesundera in connection with
charges against former UNP Minister Ravi Karunanayake said the former
UNP Minister had received US $ Three million to his personal account
from the American company Necksia.
The Deputy Exchange Controller examined by Senior State Counsel
Dilipa Chamath Peiris said he had also sent a letter to Karunanayake
wherein the ex-MP was given seven questions to answer in connection with
Karunanayake and two others were in possession of US $ Three million
in violation of the Exchange Control Ordinance regulations. One has to
obtain permission from the Central Bank of Sri Lanka to possess this
amount of foreign currency.
The Deputy Controller said this foreign currency was to be used to
purchase shares in Union Bank.
Examined further by the Senior State Counsel, the witness said
according to the statement made by second accused in the case Linton
Piyasena, the former UNP Minister was aware of this entire transaction.
The Deputy Controller said according to a statement made by one Weragala,
Karunanayake had made arrangements with Raj Rajaratnam to purchase
shares from Union Bank through a US company.
Further proceedings were put off for today.
Presidentís Counsel Ananda Wijesekera, Presidentís Counsel Rienzi
Arsacularatna, Anil Silva, with Rasika Balasuriya and Shan Senanayake
instructed by G.P. Arulpragasam appeared for the defence.